Bernard Aybran
“Asset management in general, and fund selection in particular, have been all about how secure is your money, lately. This has to be appreciated with regards to each asset class, obviously, but the management company and the custodian have to be scrutinised as well. Thus, the changes in our portfolio mainly reflect this overall “flight to quality”. The main addition is the Powershare EuroMTS Cash 3 Months: it is only made up of EuroZone Sovereign short term, with a cash portfolio (ie not a swap replication), and the custodian is as sound as you can expect.”
AMOUNT (E) FUND
20,000 Invesco Euro Liquidity Portfolio (money market)
20,000 Powershare EMTS Cash 3 Months (money market)
10,000 Lyxor Euro MTS 7-10 (fixed income sovereign)
20,000 CS Tremont All Hedge (fund of hedge funds)
5,000 Centifolia (French equity)
5,000 Invesco Energy (energy global)
7,500 L Select - US Select Growth (US equity)
2,500 Invesco Pan-European Structured (Europe equity)
5,000 Magellan (emerging equity)
5,000 Skandia US Large Caps Value (US equity)
